16.03.2015 - Norway’s Sovereign Wealth Fund reducing investments in Turkish bond market
Norway’s Sovereign Wealth Fund, the largest in the world at USD 890 billion, has announced that it will be reducing its investments in the Turkish bond market, resulting in a TRY 77 million decline in bonds. Despite Turkey having a coefficient of 1 according to the Barclays Capital Aggregate Bond Index, the Sovereign Wealth Fund noted that it had reduced Turkey’s position to 0.5. This means its position on Turkish Lira bonds will be reduced by exactly half. AK Investment’s Gökhan ?en told BusinessH/T that he calculates this decision will result in a TRY 77 million decline in Turkish Lira bonds. Foreigners have reduced their positions on Turkish bonds by USD 1.2 billion since the start of the new year...............................................Full Article: Source
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